Lebanon, Tennessee Short-Term Rental Market
Lebanon, TN STRs averaged $313/night at 59.6% occupancy in April 2026 across a market of 15,700+ active listings.
Quick Answer: Lebanon, Tennessee is an active short-term rental market. average occupancy is 65%. average monthly revenue is $5,908. average daily rate is $329. the top operator is AvantStay with 545 listings. market score is 81/100 (grade B).
Market data reflects the Nashville regional market, which includes Lebanon. Regulations, taxes, and permit details below are specific to Lebanon.
Market Score Breakdown
Five dimensions Apivex evaluates per market.
Market Overview
Lebanon, Tennessee, the seat of Wilson County approximately 25 miles east of Nashville, anchors a short-term rental market drawing Nashville-overflow visitors alongside event and agritourism traffic. Data through April 2026 shows the market at 59.6% average occupancy and a $313 average daily rate, producing approximately $5,227 in average monthly revenue per listing. RevPAR stands at $186.41.
The listing base totals approximately 15,716 active units in the area. Entire-place rentals dominate at 14,856 units (94.5% of the market), with private rooms adding 855 listings. One-bedroom properties are the most common configuration at 5,185 listings. Two-bedroom units account for 3,408 listings, 3-bedroom units for 3,043, 4-bedroom units for 3,067, and 5-bedroom or larger units for 981. Airbnb-exclusive listings number 6,680, dual-channel listings on both Airbnb and VRBO number 8,139, and VRBO-exclusive listings add 897.
Year-over-year as of April 2026, occupancy gained 4.9 percentage points while ADR fell 6.3%, producing a net revenue increase of 9.1% versus the same month in 2025. The market’s composite score is 80.9 out of 100, anchored by a rental demand sub-score of 87.3, an investability score of 77.5, and a seasonality score of 75.4. Regulation scores at 69.7, consistent with Tennessee’s STR-protective statutory framework alongside local permitting requirements. Revenue growth trails at a sub-score of 59.0.
Key demand drivers include the Wilson County Fair (one of the largest county fairs in North America, held in late August), Cedars of Lebanon State Park, Fiddlers Grove Historic Village, Cumberland University events, and proximity to Nashville Superspeedway. The Nashville proximity provides a reliable base of visitors who find Wilson County lodging costs below downtown Nashville rates.
Seasonal Patterns
| Month | Occupancy | ADR | Revenue |
|---|---|---|---|
| Jan | 42% | $204 | $2,548 |
| Feb | 53% | $221 | $2,923 |
| Mar | 62% | $259 | $4,386 |
| Apr | 58% | $273 | $4,410 |
| May | 60% | $285 | $4,761 |
| Jun | 63% | $288 | $4,882 |
| Jul | 60% | $257 | $4,354 |
| Aug | 57% | $264 | $4,191 |
| Sep | 59% | $271 | $4,269 |
| Oct | 63% | $280 | $4,914 |
| Nov | 54% | $251 | $3,742 |
| Dec | 50% | $222 | $3,087 |
Top Short-Term Rental Operators in Lebanon
Ranked by total active listings. Useful for understanding the competitive landscape.
| # | Operator | Listings | Reviews | Rating |
|---|---|---|---|---|
| 1 | AvantStay | 545 | 7,105 | ★ 4.69 |
| 2 | GoodNight Stay | 302 | 6,609 | ★ 4.48 |
| 3 | Coboda Rentals | 247 | 5,118 | ★ 4.48 |
| 4 | Host Extraordinaires | 238 | 23,503 | ★ 4.78 |
| 5 | Vacasa | 221 | 10,616 | ★ 4.53 |
What Kind of STR Should I Buy in Lebanon?
Revenue and pricing by property type, tier, and bedroom count.
Revenue by Bedroom Count
| 1 bed | 5,185 |
| 2 bed | 3,408 |
| 3 bed | 3,043 |
| 4 bed | 3,067 |
| 5 bed | 981 |
ADR by Property Tier
| Entire Home | $341 |
| Luxury | $598 |
| Professionally Managed | $411 |
Revenue by Dwelling Type
| Apartment | $5,622 |
| Entire Place | $6,119 |
| House | $6,241 |
Booking Channel Mix
Distribution of bookings across major STR platforms.
| Channel | Share |
|---|---|
| airbnb | 42.5% |
| vrbo | 5.7% |
| both | 51.8% |
Investment Analysis
The April 2026 average monthly revenue of $5,227 annualizes to approximately $62,724 per listing. Zillow housing price data is not available for this area, making a direct gross yield calculation impractical. Investors will need to source current home-value benchmarks locally before modeling acquisition returns.
Pricing tier data provides useful context. Entire-home listings average $323.63 per night, closely in line with the $313 market-wide ADR. Luxury-tier listings command $566.64 per night, an 81% premium over the market average. Professionally managed listings average $397.46 per night, a 27% premium over the market average. At the market’s April 2026 average occupancy of 59.6%, a professionally managed property would be expected to generate approximately $7,100 per month gross ($397.46 per night times 59.6% times 30 days), and a luxury-tier property approximately $10,130 per month gross, before expenses. These estimates assume the market-average occupancy applies uniformly across tiers, which may not hold.
Revenue by property type is relatively consistent: apartments average $4,977 per month, entire-place listings $5,392, and houses $5,528. The modest gap suggests property type alone is a weak differentiator; rate positioning and quality tier matter more.
Annual averages show the market peaked in 2022 at $4,816 monthly average revenue before a 2023 dip to $4,441 and a 2024 recovery to $4,819. The 2025 full-year average pulled back to $4,599. The early-2026 data, while partial, shows a year-over-year revenue gain of 9.1% in April, suggesting some recovery in unit economics relative to the same period last year.
Tennessee’s STR-protective legislation reduces regulatory risk, contributing to the market’s investability score of 77.5. The moderate enforcement severity and the absence of statewide owner-occupancy requirements support a viable investment framework.
Revenue Trend (5 yr)
ADR & Occupancy Trends (5 yr)
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Booking Insights
The average booking lead time for this market is 52.8 days, meaning guests are typically reserving nearly two months in advance. This extended booking window provides operators meaningful pricing flexibility. Rates can be held firm at booking and reduced selectively only in the 2-3 weeks before check-in if occupancy targets are not met, rather than discounting early across the board.
Average length of stay is 3.6 nights per booking. At 59.6% occupancy over a 30-day month, a listing accumulates approximately 17.9 booked nights. Divided by 3.6 nights per stay, this implies roughly 5 guest turnovers per month on average. Operators should budget cleaning and linen costs accordingly, as per-turnover costs meaningfully affect operating margins at that frequency.
The combination of a 52.8-day average lead window and a 3.6-night average stay, alongside a demand base tied to events and weekend leisure trips, points to planned leisure travelers rather than last-minute or business transient guests. Marketing through event calendars (Wilson County Fair, university events, motorsports) in the 60-90 day window before target dates could improve booking pace for high-demand weekends.
Short-Term Rental Regulations
Short-term rentals are legal in Lebanon and in unincorporated Wilson County. Tennessee’s Short-Term Rental Unit Act provides statewide protection against outright local bans while permitting cities and counties to impose zoning, registration, and safety requirements.
Within Lebanon city limits, STRs are governed by Title 14 of the City’s Zoning Ordinance. In unincorporated Wilson County, STRs fall under the County Zoning Ordinance, revised February 2026, which treats them as bed-and-breakfast uses. County rules require an on-site or local caretaker residing within 10 miles, with owner and caretaker contact information filed with the County Sheriff, the Zoning Office, and Wilson County Emergency Management Agency. Owner-occupancy is not required in either jurisdiction.
Tax obligations include the City of Lebanon’s 4% hotel/motel (occupancy) tax, raised from 2% in January 2023. Wilson County levies a 5% occupancy tax in unincorporated areas. Tennessee’s 7% state sales tax applies additionally, and major platforms have remitted state-administered occupancy taxes on behalf of hosts since January 2021. Operators should confirm whether platform remittance covers city and county taxes or whether those remain a host responsibility.
Permit fees were not published online at the time of data collection and should be confirmed with the Lebanon Planning Department at 615-444-3647. Tennessee imposes no statewide cap on rental nights. Enforcement severity is rated moderate. The February 2026 revision to the Wilson County Zoning Ordinance is a recent regulatory development; investors in unincorporated Wilson County properties should review the current text for any STR-specific provision changes.
Market Comparison
Lebanon’s April 2026 occupancy of 59.6% is above the approximate U.S. STR median of 55%. The ADR of $313 is well above the national median of roughly $220, reflecting a combination of Nashville-market pricing influence and a mix skewed heavily toward entire-place listings. RevPAR of $186.41 captures the combined effect of rate and occupancy.
Among professional operators, AvantStay leads the market with 545 listings and a 4.693 average rating across 7,105 reviews. GoodNight Stay follows with 302 listings and a 4.480 rating. Coboda Rentals (247 listings, 4.475 rating), Host Extraordinaires (238 listings, 4.779 rating across 23,503 reviews), and Vacasa (221 listings, 4.531 rating across 10,616 reviews) round out the top five. These five firms collectively manage 1,553 listings, representing approximately 9.9% of the total 15,716-listing market. The remaining 90% is held by independent hosts and smaller operators, indicating a fragmented market with meaningful room for individual operators.
The market’s composite score of 80.9 ranks it as a generally strong STR location by the underlying scoring model, driven primarily by rental demand (87.3). Revenue growth is the weakest sub-score at 59.0, reflecting recent ADR softness and the plateau in annual revenue averages since 2022.
Frequently Asked Questions About Lebanon, Tennessee
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